The collapse of Huboo Technologies Limited (now Hub Realisations Limited Company number 09727464) caused devastation to its workers and financial backers but it was a complete disaster for its investors. The disappearance of £118 million in equity funding raises fundamental doubts about investor support for a company which never achieved profitability. The company now operates as HUB REALISATIONS LIMITED (Company number 09727464) and HUBOO TECH LIMITED (Company number 16143472) was established in December 2024. The new business establishment faces an important question about its trustworthiness.
Where Did the Money Go?
The company received multiple investment rounds yet it failed to achieve profitability. Financial records show:
2022: Losses of £47,108,825
2021: Losses of £13,389,157
2020: Losses of £3,539,804
The company experienced exponential growth in its losses while its revenue numbers kept rising. The company lost substantial amounts of money instead of reaching profitability. The investors maintained their support for Huboo even though warning indicators were evident.
No Returns for Shareholders
The business assets of Huboo were sold for £9 because no solvent buyer emerged. Investors will receive nothing. The financial support of MIC Capital Partners and Kreos Capital alongside other investors has been completely eliminated. The unsecured creditors will not receive any payment.
The New Company: Huboo Tech Limited
Brislington Tradeco Limited established a new business entity called Huboo Tech Limited. The new company maintains the same operational structure that caused Huboo to fail. The lack of financial strategy changes makes it difficult for investors and customers to trust this new business entity.
Conclusion
The collapse of Huboo should serve as a stark warning. Why did investors keep backing a failing company? What evidence did the leadership present to support ongoing financial losses? The business model remains unchanged under the new company name so will the same pattern of failure occur again? Customers need to exercise caution before placing their trust in Huboo Tech Limited.
